Israeli Femtech Start-up, Ark Surgical, secures $2.1 Million in Funding for LapBox Tissue Containment System for Laparoscopic GYN Surgery
NAZARETH, Israel, June 1, 2021 /PRNewswire/ -- Ark Surgical Ltd., a leading Israeli Femtech start-up and portfolio company of the NGT3 venture capital fund and technology incubator. Today, Ark Surgical announced that it secured $2.1 million in funding for its LapBox™ containment system for secure removal of large internal organs during laparoscopic GYN surgery. The financing was raised from investors of the Together equity crowdfunding platform alongside the Israeli Innovation Authority and NGT. Ark Surgical has completed the first-in-human (FIH) study demonstrating the safety and functionality/effectiveness? of the LapBox™.
Approximately 600,000 hysterectomies are performed annually in the U.S., with the worldwide number estimated at 1.5 million. Due to the concern of spreading undiagnosed cancer located in the uterus being removed, many hysterectomies are being performed today by open surgery. Open surgery requires a 12 cm incision resulting in more pain, longer hospitalization and healing periods, and higher complication rates and even death. Ark Surgical's LapBox™ allows hysterectomy to be performed laparoscopically significantly benefitting patients, their families and healthcare providers.
The single-use LapBox™ employs simple mechanical principles to ensure secure organ retrieval in laparoscopic surgery. LapBox serves as a fully contained space within the inflated abdomen within which the surgeon can effectively morcellate large organs such as the uterus, without the risks associated with tissue morcellation.
Ark Surgical, CEO, Stav Tori remarked, "To date, no device for this problem has gained broad market adoption, leaving a significant unaddressed clinical need which our company is focused on filling. The current funding will enable us to submit for the FDA regulatory and marketing clearance which will be a major milestone in our pathway to the market where it is expected to shorten hospitalization stays by 300%, save hundreds of millions of dollars to hospitals and insurers and save the lives of 1,800 women every year."
NGT3 CEO and Ark Surgical Chairman, Zohar Gendler added: "We are very excited with the ARK Surgical technology, the clinical results, the unmet market need, the straightforward regulatory path and the short time to market. There is currently great interest in companies that address Women's Health and that offer innovative technologies that solve critical unmet needs for almost half the world's population. By enabling women to undergo faster and safer surgery, Ark Surgical has demonstrated its value and will continue to do so as it moves ahead in its pathway to the market."
Contact:
Stav Tori
Chief Executive Officer
[email protected]
+972-4-6564118
SOURCE ARK Surgical
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